STATE Bank of India (SBI) has drawn up a specially packaged loan scheme making a holiday in a foreign destination, Singapore to begin with, highly affordable.

What one needs to pay for visiting Singapore is just Rs 467 to Rs 550 per month for an adult and Rs 335 to Rs 418 for child in 48 equated monthly instalments (EMIs).

Based on one's repayment capability, the bank would even extend an additional loan to meet shopping expenditure in Singapore.

SBI, which has entered into an alliance with Air India and Singapore Tourism Board launched the scheme called `SBI-Travel Scheme to Singapore' here on Wednesday.

The travel package is linked to the personal loan product of the bank that can be availed of at any of its branches, to begin with in Andhra Pradesh, the SBI Deputy Managing Director, Mr S.K. Bhattacharyya, said. The scheme would be extended to other States over a period of time.

Air India has come out with three travel schemes that would be available till March 31 on all Air India flights on the Hyderabad-Singapore-Hyderabad sector, according to Air India AP Manager, Mr S.M. Mazharullah. Air India also plans to extend similar travel packages to Malaysia soon , he said.

Under scheme-A, only airfare would be financed on Air India flights with an indicative loan amount of Rs 17,500 for an adult and Rs 12,550 for child.

Apart from airfare, the scheme-B includes four-days and three-nights at Metropolitan YMCA with a daily breakfast, half-day city tour and one launch.

The scheme, which also provides Singapore river bumboat ride and visit to Newater Plant, comes with an indicative loan amount of Rs 20,600 for an adult and Rs 15,650 for child.

Scheme-C, with an indicative loan amount of Rs 22,000 for adult and Rs 17,050 for child, would provide airfare, four-days and three-nights stay at Golden Landmark with a daily breakfast, half-day city tour with one launch, Singapore river bumboat ride and a visit to Newater Plant.

Expecting a good response to the schemes, the Singapore Tourism Board Area Director, Ms Bridget Goh, said Singapore has recorded an all-time high in the number of Indian tourists visiting the country at 4,26,500 during January to November last year, an increase of nearly 24 per cent over the previous year.

Singapore has also registered a growth of more than 47 per cent in number of tourists from Andhra Pradesh at 8,931 during last year compared with 6,060 tourists in the previous year.

(This article was published in the Business Line print edition dated January 6, 2005)

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